For Immediate Publication / Broadcast / Telecast
PR-1330
Highlights of Q3 FY 17 (Dec31,2016) financial results vis-à-vis Q3 FY 16 (Dec 31, 2015) ( MCLR)
- Business up 16.34% to 5,16,119 Crore (from 4,43,615 Crore)
- Deposits increased by 27.06% to 2,98,194 Crore (from 2,34,691 Crore)
- Advances up by 4.31% to 2,17,925 Crore (from 2,08,924 Crore)
- CASA increased by 44.32% to 84,660 Crore (from 58,662 Crore)
- Total assets grew by 18.78% to 4,02,712 Crore (from 3,39,031 Crore)
- Non-Interest Income for the nine months ended December 2016 increased by 38.66 % to 2,862 Crore from 2,064 Crore for the nine months ended December 2015.
- Net Interest Income (NII) for the nine months ended December 2016 is 4,163 Crore against 4,662 Crore for the nine months ended December 2015.
- Operating Profit for the nine months ended December 2016 is 3,189 Crore against
3,775 Crore for the nine months ended December 2015.
Mumbai, February 07, 2017: The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended December 31, 2016 which are as under:
Working results:
Statement of Profit & Loss ( in Crore)
|
Q3 |
Q3 |
9M |
9M |
|
2016-17 |
2015-16 |
2016-17 |
2015-16 |
Total Income |
7104 |
7362 |
23711 |
23179 |
Interest income |
6553 |
6784 |
20849 |
21115 |
Non-Interest Income |
551 |
578 |
2862 |
2064 |
Total Expenses |
6922 |
6244 |
20522 |
19404 |
Interest expenses |
5703 |
5228 |
16686 |
16453 |
Operating expenses |
1219 |
1016 |
3836 |
2951 |
Operating Profit |
182 |
1118 |
3189 |
3775 |
Provisions (net) |
2437 |
3301 |
5147 |
5704 |
Net Profit |
-2255 |
-2184 |
-1958 |
-1929 |
Profitability: IDBI reported Net loss of 1958 Crore for the nine months ended December 31, 2016 as against 1929 Crore for the nine months ended December 31, 2015.
Total business (deposits and advances) as at December 31, 2016 was 5,16,119 Crore as against 4,43,615 Crore as at December 31, 2015, registering a growth of 16.34%.
Deposits increased to 2,98,194 Crore as at December 31, 2016 from 2,34,691 Crore as at December 31, 2015, reflecting a growth of 27.06%.
Advances increased by 4.31% to 2,17,925 Crore as at December 31, 2016 as compared to 2,08,924 Crore as at December 31, 2015.
Aggregate assets as at December 31, 2016, was 4,02,712 Crore as against 3,39,031 Crore as at December 31, 2015, registering a growth of 18.78%.
Gross NPA as on December 31, 2016 stood at 15.16% ( 35,245 Crore) of Gross Advances as compared to 13.05% ( 30,134 Crore) of Gross Advances as at September 30, 2016.
Net NPA as on December 31, 2016 stood at 9.61% ( 20,949 Crore) of net advances as compared to 8.32% ( 18,195 Crore) of Net Advances as at September 30, 2016.
Significant developments during October to December 2016
- IDBI Bank reduced its Marginal Cost of Funds based Lending Rates (MCLR) w.e.f. January 01, 2017 and further again w.e.f February 01,2017.
- IDBI Bank reduced its Base Rate from 9.65% p.a. to 9.50% p.a. The Benchmark Prime Lending Rate (BPLR) was also reduced from 14.15% p.a. to 14.00% p.a., effective from January 01, 2017.
- IDBI Bank celebrated Farmer's Day by conducting 'Kisan Sangosthis' at rural & semi-urban locations across the country to acknowledge the important role played by farmers in socio economic development of the country.
- Ministry of MSME has instituted National Awards for Excellence in MSE Lending by Public Sector Banks in recognition of the performance in financing to Micro and Small Enterprises. IDBI Bank received “First Prize” in excellence in lending to Micro Enterprises from Hon’ble PM, Shri Narendra Modi.
- ASSOCHAM has instituted Awards for Excellence in MSE Lending by Banks & NBFCs in recognition of the performance in financing to Micro, Small & Medium Enterprises. IDBI Bank was awarded in the category ‘Excellence in Micro Lending’ from Hon’ble MoS for MSME, GoI, Shri Haribhai Parthibhai Chaudhary.
- IDBI Bank celebrated the Silver Jubilee of its premier training institute, Jawaharlal Nehru Institute of Banking and Finance (JNIBF), Hyderabad on December 17, 2016.
- IDBI Bank celebrated its 53rd Foundation Day on October 01, 2016. On the occasion the Bank launched 53 e-lounges, an e-Trade Portal and the Bank’s Facebook banking platform ‘iEngage’.
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सीआइएन / (CIN)L65190MH2004GOI148838
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